The software giant said Monday morning that it would acquire LinkedIn in a $26.2 billion cash deal. The acquisition, by far the largest in Microsoft’s history, unites two companies in different businesses: one a big maker of software tools, the other the largest business-oriented social networking site, with more than 400 million members globally.
LinkedIn had a long, multi-year run as the best-performing social network in the stock market. But over the past six months, despite still being a sizable business, shares have started to sink as Facebook (FB, Tech30) has soared.
LinkedIn (LNKD, Tech30) had $3 billion in revenue last year, up 35% from the year before. It has 433 million members worldwide, but its growth has been slowing.
Shares had plunged 42% this year, before the deal was announced. The big spark came in February when the company warned of disappointing revenue and profits ahead.
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